List of countries by exchange rate regime

Short description: none

Foreign exchange

Exchange rates

* Currency band
* Exchange rate
* Exchange-rate regime
* Exchange-rate flexibility
* Dollarization
* Fixed exchange rate
* Floating exchange rate
* Linked exchange rate
* Managed float regime
* Dual exchange rate

Markets

* Foreign exchange market
* Futures exchange
* Retail foreign exchange trading

Assets

* Currency
* Currency future
* Currency forward
* Non-deliverable forward
* Foreign exchange swap
* Currency swap
* Foreign exchange option

Historical agreements

* Bretton Woods Conference
* Smithsonian Agreement
* Plaza Accord
* Louvre Accord

See also

* Bureau de change
* Hard currency
* Currency pair
* Foreign exchange fraud
* Currency intervention

* v
* t
* e

This is a list of countries by their exchange rate regime.[1]

De facto exchange-rate arrangements in 2022 as classified by the International Monetary Fund.

Floating (floating and free floating)

Soft pegs (conventional peg, stabilized arrangement, crawling peg, crawl-like arrangement, pegged exchange rate within horizontal bands)

Hard pegs (no separate legal tender, currency board)

Residual (other managed arrangement)

## Contents

* 1 Table of Monetary Policy framework
* 2 No legal tender of their own
* 2.1 US dollar as legal tender
* 2.2 Euro as legal tender
* 2.3 Australian dollar as legal tender
* 2.4 Swiss franc as legal tender
* 3 Currency board
* 3.1 US dollar as exchange rate anchor
* 3.2 Euro as exchange rate anchor
* 3.3 Singapore dollar as exchange rate anchor
* 3.4 Hong Kong dollar as exchange rate anchor
* 4 Conventional peg
* 4.1 US dollar as exchange rate anchor
* 4.2 Euro as exchange rate anchor
* 4.3 Rand as exchange rate anchor
* 4.4 Composite exchange rate anchor
* 4.5 Indian Rupee as exchange rate anchor
* 4.6 Other
* 5 Stabilized arrangement
* 5.1 US dollar as exchange rate anchor
* 5.2 Euro as exchange rate anchor
* 5.3 Composite exchange rate anchor
* 5.4 Monetary aggregate target
* 5.5 Other
* 6 Crawling peg
* 6.1 US dollar as exchange rate anchor
* 6.2 Composite exchange rate anchor
* 7 Crawl-like arrangement
* 7.1 US dollar as exchange rate anchor
* 7.2 Monetary aggregate target
* 7.3 Inflation-targeting framework
* 7.4 Other
* 8 Pegged exchange rate within horizontal bands
* 8.1 Composite exchange rate anchor
* 9 Other managed arrangement
* 9.1 US dollar as exchange rate anchor
* 9.2 Composite exchange rate anchor
* 9.3 Monetary aggregate target
* 9.4 Inflation-targeting framework
* 9.5 Other
* 10 Floating
* 10.1 Monetary aggregate target
* 10.2 Inflation-targeting framework
* 10.3 Other
* 11 Free floating
* 11.1 Inflation-targeting framework
* 11.2 Other
* 12 See also
* 13 References

## Table of Monetary Policy framework

De Facto Classification of Exchange Rate Arrangements, as of April 30, 2021, and Monetary Policy Frameworks[2] Exchange rate arrangement (Number of countries) | Exchange rate anchor | Monetary aggregate target (25) | Inflation Targeting framework (45) | Others (43)

|
|
|
|

United States dollar (37) | Euro (26) | Composite (8) | Other (9)
No separate legal tender (14)  |

* Ecuador
* El Salvador
* Marshall Islands
* Micronesia
* Palau
* Panama (PAB)
* Timor-Leste

* Andorra
* Kosovo
* Montenegro
* San Marino

|  |

* Kiribati
* Nauru
* Tuvalu

|  |  |
Currency board (11)  |

* Djibouti (DJF)
* Hong Kong (HKD)

ECCU

* Antigua and Barbuda (XCD)
* Dominica (XCD)
* Grenada (XCD)
* Saint Kitts and Nevis (XCD)
* Saint Lucia (XCD)
* Saint Vincent and the Grenadines (XCD)

* Bosnia and Herzegovina (BAM)
* Bulgaria (BGN)

|  |

* Brunei (BND)

|  |  |
Conventional peg (40)  |

* Aruba (AWG)
* The Bahamas (BSD)
* Bahrain (BHD)
* Barbados (BBD)
* Belize (BZD)
* Curaçao (ANG)
* Eritrea (ERN)
* Jordan (JOD)
* Oman (OMR)
* Qatar (QAR)
* Saudi Arabia (SAR)
* Turkmenistan (TMT)
* United Arab Emirates (AED)

* Cabo Verde (CVE)
* Comoros (KMF)
* Denmark (DKK)
* São Tomé and Príncipe (STD)

WAEMU

* Benin (XOF)
* Burkina Faso (XOF)
* Côte d'Ivoire (XOF)
* Guinea-Bissau (XOF)
* Mali (XOF)
* Niger (XOF)
* Senegal (XOF)
* Togo (XOF)

CEMAC

* Cameroon (XAF)
* Central African Republic (XAF)
* Chad (XAF)
* Equatorial Guinea (XAF)
* Gabon (XAF)
* Republic of Congo (XAF)

* Fiji (FJD)
* Libya (LYD)

* Eswatini (SZL)
* Lesotho (LSL)
* Namibia (NAD)
* Bhutan (BTN)
* Nepal (NPR)

* Samoa (SAT)

|  |
Stabilized arrangement (24)  |

* Guyana (GYD)
* Cambodia (KHR)
* Iran (IRR)
* Maldives (MVR)
* Lebanon (LBP)
* Trinidad and Tobago (TTD)

* North Macedonia (MKD)

* Singapore (SGD)

|  |

* Bangladesh (BDT)
* Algeria (DZD)
* Bolivia (BOB)
* The Gambia (GMD)
* Nigeria (NGN)
* Papua New Guinea (PGK)
* Suriname (SRD)
* Tanzania (TZS)
* Tajikistan (TJS)

* Guatemala (GTQ)
* Serbia (RSD)

* Azerbaijan (AZN)
* Mongolia (MNT)
* Sudan (SDG)
* Egypt (EGP)

Crawling peg (3)  |

* Honduras (HNL)
* Nicaragua (NIO)

|  |

* Botswana (BWP)

|  |  |  |
Crawl-like arrangement (24)  |  |  |

* Vietnam (VND)

|  |

* Islamic Republic of Afghanistan (AFN)
* Burundi (BIF)
* China (CNY)
* Democratic Republic of the Congo (CDF)
* Ethiopia (ETB)
* Rwanda (RWF)

* Costa Rica (CRC)
* Dominican Republic (DOP)
* Ghana (GHS)
* Philippines (PHP)
* Romania (RON)
* Uzbekistan (UZS)

* Argentina (ARS)
* Laos (LAK)
* Mauritania (MRO)
* Mozambique (MZN)
* Switzerland (CHF)
* Solomon Islands (SBD)
* South Sudan (SSP)
* Tunisia (TND)
* Zambia (ZMW)

Pegged exchange rate within horizontal bands (1)  |  |  |

* Morocco (MAD)

|  |  |  |
Other managed arrangement (12)  |  |  |

* Kuwait (KWD)
* Syria (SYP)

|  |

* Liberia (LRD)
* Myanmar (MMK)
* Sierra Leone (SLL)
* Zimbabwe (ZWL)

* Kenya (KES)

* Haiti (HTG)
* Kyrgyzstan (KGS)
* Tonga (TOP)
* Vanuatu (VUV)
* Venezuela (VEF)

Floating (32)  |  |  |  |  |

* Angola (AOA)
* Belarus (BYR)
* Madagascar (MGA)
* Yemen (YER)

* Albania (ALL)
* Armenia (AMD)
* Brazil (BRL)
* Colombia (COP)
* Georgia (GEL)
* Hungary (HUF)
* Iceland (ISK)
* India (INR)
* Indonesia (IDR)
* Israel (ILS)
* Jamaica (JMD)
* Kazakhstan (KZT)
* South Korea (KRW)
* Moldova (MDL)
* New Zealand (NZD)
* Paraguay (PYG)
* Peru (PEN)
* Seychelles (SCR)
* Sri Lanka (LKR)
* South Africa (ZAR)
* Thailand (THB)
* Turkey (TRY)
* Uganda (UGX)
* Ukraine (UAH)
* Uruguay (UYU)

* Malaysia (MYR)
* Mauritius (MUR)
* Pakistan (PKR)

Free floating (33)  |  |  |  |  |  |

* Australia (AUD)
* Canada (CAD)
* Chile (CLP)
* Czech Republic (CZK)
* Japan (JPY)
* Mexico (MXN)
* Norway (NOK)
* Poland (PLN)
* Russia (RUB)
* Sweden (SEK)
* United Kingdom (GBP)

* Somalia (SOS)
* United States (United States dollar )
* European Union (EUR)

*     * Austria
* Belgium
* Croatia
* Cyprus
* Estonia
* Finland
* France
* Germany
* Greece
* Ireland
* Italy
* Latvia
* Lithuania
* Luxembourg
* Malta
* Netherlands
* Portugal
* Slovakia
* Slovenia
* Spain

## No legal tender of their own

### US dollar as legal tender

* British Virgin Islands
* Caribbean Netherlands
* Ecuador
* El Salvador
* Marshall Islands
* Micronesia
* Palau
* Timor-Leste
* Turks and Caicos Islands

### Euro as legal tender

* Andorra[3]
* Kosovo
* Monaco[3]
* Montenegro
* San Marino
* Vatican City[3]

### Australian dollar as legal tender

* Kiribati[4]
* Nauru[4]
* Tuvalu[4]

### Swiss franc as legal tender

* Liechtenstein[5]

## Currency board

### US dollar as exchange rate anchor

* Antigua and Barbuda (XCD)
* Djibouti (DJF)
* Dominica (XCD)
* Grenada (XCD)
* Hong Kong (HKD)
* Saint Kitts and Nevis (XCD)
* Saint Lucia (XCD)
* Saint Vincent and the Grenadines (XCD)

### Euro as exchange rate anchor

* Bosnia and Herzegovina (BAM)
* Bulgaria (BGN)
* French Polynesia (XPF)

### Singapore dollar as exchange rate anchor

* Brunei (BND)

### Hong Kong dollar as exchange rate anchor

* Macau (MOP)

## Conventional peg

### US dollar as exchange rate anchor

* Aruba (AWG)
* Azerbaijan (AZN)
* The Bahamas (BSD)
* Bahrain (BHD)
* Barbados (BBD)
* Belize (BZD)
* Curaçao (ANG)
* Eritrea (ERN)
* Jordan (JOD)
* Oman (OMR)
* Panama (PAB)
* Qatar (QAR)
* Saudi Arabia (SAR)
* Sint Maarten (ANG)
* South Sudan (SSP)
* Turkmenistan (TMT)
* United Arab Emirates (AED)

### Euro as exchange rate anchor

* Benin (XOF)
* Burkina Faso (XOF)
* Cabo Verde (CVE)
* Cameroon (XAF)
* Central African Republic (XAF)
* Chad (XAF)
* Comoros (KMF)
* Côte d'Ivoire (XOF)
* Denmark (DKK)
* Equatorial Guinea (XAF)
* Gabon (XAF)
* Guinea-Bissau (XOF)
* Mali (XOF)
* Niger (XOF)
* Republic of Congo (XAF)
* São Tomé and Príncipe (STD)
* Senegal (XOF)
* Togo (XOF)

### Rand as exchange rate anchor

* Eswatini (SZL)
* Lesotho (LSL)
* Namibia (NAD)

### Composite exchange rate anchor

* Fiji (FJD)
* Kuwait (KWD)
* Libya (LYD)
* Morocco (MAD)
* Samoa (WST)

### Indian Rupee as exchange rate anchor

* Bhutan (BTN)
* Nepal (NPR)

### Other

* Solomon Islands (SBD)

## Stabilized arrangement

### US dollar as exchange rate anchor

* Guyana (GYD)
* Iraq (IQD)
* Kazakhstan (KZT)
* Lebanon (LBP)
* Maldives (MVR)
* Suriname (SRD)
* Trinidad and Tobago (TTD)

### Euro as exchange rate anchor

* North Macedonia (MKD)

### Composite exchange rate anchor

* Singapore (SGD)
* Vietnam (VND)

### Monetary aggregate target

* Bangladesh (BDT)
* Burundi (BIF)
* Democratic Republic of the Congo (CDF)
* Guinea (GNF)
* Sri Lanka (LKR)
* Tajikistan (TJS)
* Yemen (YER)

### Other

* Angola (AOA)
* Azerbaijan (AZN)
* Bolivia (BOB)

## Crawling peg

### US dollar as exchange rate anchor

* Nicaragua (NIO)

### Composite exchange rate anchor

* Botswana (BWP)

## Crawl-like arrangement

### US dollar as exchange rate anchor

* Honduras (HNL)
* Jamaica (JMD)
* Papua New Guinea (PGK)

### Monetary aggregate target

* China (CNY)
* Ethiopia (ETB)
* Uzbekistan (UZS)

### Inflation-targeting framework

* Armenia (AMD)
* Dominican Republic (DOP)
* Guatemala (GTQ)

### Other

* Belarus (BYR)
* Haiti (HTG)
* Laos (LAK)
* Switzerland (CHF)
* Tunisia (TND)
* Argentina (ARS)

## Pegged exchange rate within horizontal bands

### Composite exchange rate anchor

* Tonga (TOP)

## Other managed arrangement

### US dollar as exchange rate anchor

* Cambodia (KHR)
* Liberia (LRD)

### Composite exchange rate anchor

* Algeria (DZD)
* Iran (IRR)
* Syria (SYP)

### Monetary aggregate target

* The Gambia (GMD)
* Myanmar (MMK)
* Nigeria (NGN)
* Rwanda (RWF)

### Inflation-targeting framework

* Czech Republic (CZK)

### Other

* Costa Rica (CRC)
* Kyrgyzstan (KGS)
* Malaysia (MYR)
* Mauritania (MRO)
* Pakistan (PKR)
* Sudan (SDG)
* Vanuatu (VUV)
* Venezuela (VED)

## Floating

### Monetary aggregate target

* Afghanistan (AFN)
* Kenya (KES)
* Madagascar (MGA)
* Malawi (MWK)
* Mozambique (MZN)
* Seychelles (SCR)
* Sierra Leone (SLL)
* Tanzania (TZS)
* Ukraine (UAH)
* Uruguay (UYU)

### Inflation-targeting framework

* Albania (ALL)
* Brazil (BRL)
* Colombia (COP)
* Georgia (GEL)
* Ghana (GHS)
* Hungary (HUF)
* Iceland (ISK)
* Indonesia (IDR)
* Israel (ILS)
* South Korea (KRW)
* Moldova (MDL)
* New Zealand (NZD)
* Paraguay (PYG)
* Peru (PEN)
* Philippines (PHP)
* Romania (RON)
* Serbia (RSD)
* South Africa (ZAR)
* Thailand (THB)
* Turkey (TRY)
* Uganda (UGX)

### Other

* Pakistan (PKR)
* Mauritius (MUR)
* Mongolia (MNT)
* Zambia (ZMW)

## Free floating

### Inflation-targeting framework

* Australia (AUD)
* Canada (CAD)
* Chile (CLP)
* Japan (JPY)
* Mexico (MXN)
* Norway (NOK)
* Poland (PLN)
* Sweden (SEK)
* United Kingdom (GBP)
* India (INR)

### Other

* European Union (EUR)

*     * Austria
* Belgium
* Croatia
* Cyprus
* Estonia
* Finland
* France
* Germany
* Greece
* Ireland
* Italy
* Latvia
* Lithuania[6]
* Luxembourg
* Malta
* Netherlands
* Portugal
* Slovakia
* Slovenia
* Spain

* Egypt (EGP)
* Russia (RUB)[7]
* Somalia (SOS)
* United States (United States dollar )

## See also

* Reserve currency
* Managed float regime

## References

1. ↑ "Monetary Policy Framework". Annual report on exchange arrangements and exchange restrictions 2014. International Monetary Fund. October 2014. p. 6. http://www.imf.org/external/pubs/nft/2014/areaers/ar2014.pdf.
2. ↑ "Annual report on exchange arrangements and exchange restrictions, 2021" (in English) (pdf). Washington DC, USA: International Monetary Fund, 2022. p. 9. https://www.elibrary.imf.org/downloadpdf/book/9781513598956/9781513598956.xml.
3. ↑ 3.0 3.1 3.2 "Euro area" (in en). https://ec.europa.eu/info/business-economy-euro/euro-area_en.
4. ↑ 4.0 4.1 4.2 "4. Exchange Rates | The Treasury". http://www.treasury.gov.au/PublicationsAndMedia/Publications/2010/Monetary-and-exchange-rate-policy/working-paper-2010-05/Exchange-rates.
5. ↑ "FMA - Finanzmarktaufsicht Liechtenstein: Switzerland". Archived from the original on 2015-07-02. https://web.archive.org/web/20150702184413/http://www.fma-li.li/en/international/bilateral-cooperation/switzerland.html. Retrieved 2015-07-02.
6. ↑ "Lithuania joins Baltic neighbours in euro club" (in en-GB). BBC News. 2015-01-01. https://www.bbc.com/news/world-europe-30635826.
7. ↑ "Russian central bank abandons rouble trading band, floats rouble". Reuters. 10 November 2014. https://www.reuters.com/article/us-russia-cenbank-rouble/russian-central-bank-abandons-rouble-trading-band-floats-rouble-idUSKCN0IU1CF20141110. Retrieved 30 November 2017.

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